These individuals were targeted for their ties to Iran’s support of terrorism, ballistic missile program, human rights abuses, criminal activities, and more.

Iran’s oil exports have fallen by approximately one million barrels per day since peaking in June, and over twenty countries have reduced their imports of Iranian oil to zero.

The Administration is pressing other importers to reduce to zero as quickly as possible.

We are providing fewer exceptions to sanctions than the last administration.

ENSURING STABILITY IN OIL MARKETS: The United States is confident that energy markets will remain well supplied despite Iranian oil export reductions.

From August 2017 to August 2018, United States crude oil production increased by 2.1 million barrels per day and exports increased by nearly one million barrels per day, adding to market liquidity.

Over the next year, United States production will increase by one million barrels per day or more.

We are working with oil producers around the world to increase their supply as well.

As a result of this increased production, respected forecasters like the United States Energy Information Administration expect global oil supply to keep pace with demand in late 2018 and exceed demand in 2019.